Stable Housing Market in Peterborough

Real Estate — November 9, 2012

TORONTO, ONTARIO--(Marketwire - Nov. 9, 2012) - According to Canada Mortgage and Housing Corporation's (CMHC) Fall Housing Market Outlook report for the Peterborough Census Metropolitan Area (CMA) resale prices will remain relatively flat through 2013 as the market continues to be balanced. Existing home sales will begin to slow in the latter part of 2012, but begin to gain momentum in the second half of 2013 as employment conditions improve. Housing starts will decrease in 2012 and remain at the same level in 2013 due to slow population growth and sufficient supply in the resale market.

"Although on average employment in 2012 and 2013 will be relatively flat, there will be growth during the second half of 2013 that will support some strengthening in demand for housing. Overall, sales in 2013 will only be down slightly from 2012 as the resale market will start to gain momentum in the latter part of the year," said Anthony Passarelli, CMHC Market Analyst for the Peterborough CMA.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

For more information, visit www.cmhc.ca or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information.

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Contact Information

National Media Contact:
Canada Mortgage and Housing Corporation
Beth Bailey
416-218-3355
bbailey@cmhc.ca

Market Analysis Contact:
Canada Mortgage and Housing Corporation
Anthony Passarelli
416-250-3234
apassare@cmhc.ca